... second question follows: how logical is it to use export alternatives as a benchmark when the regulator periodically imposes export bans? For instance, diesel export restrictions were introduced after last year's fuel crisis caused by the Ministry of Finance's attempts to "halve" the damper. Meanwhile, the ban on gasoline exports was imposed twice this year: from March 1 to May 17, and from August 1 to December 31, with the current ban not yet officially lifted. In this context, wouldn't ...

... of Russian Oil and Gas on the Russian Economy As for the influence of the U.S.-EU deal on Russia, industry experts believe that Moscow has long been preparing for the closure of the European market to domestic oil and gas. Leading analyst at Freedom Finance Global, Natalia Milchakova, pointed out that the refusal to accept Russian oil and gas will hardly affect state budget revenues. Prior to 2022, Russia supplied Europe with 160 billion cubic meters of pipeline gas, and now that figure stands at ...

... purchases by the public rise) and ongoing geopolitical risks that heighten interest in savings in hard currencies. On the other hand, support for the national currency continues to come from still high oil prices, foreign currency sales by the Ministry of Finance (including yuan from reserves under the budget rule), as well as a high key interest rate from the Central Bank of Russia. The recent reduction of the key rate by the Central Bank to 18% per annum has slightly eased financing conditions; however,...

... $61–63 per barrel, slightly above the $60 budget threshold. Revenues above this threshold go to the National Wealth Fund (NWF), meaning basic oil revenue remains secure. Analyst Vladimir Chernov highlights that oil and gas revenues still exceed the Finance Ministry’s baseline projections, and the weaker ruble partly offsets export losses. Energy expert Kirill Rodionov believes Russia’s 2024 budget remains on track, with Brent oil prices likely to range between $70–75 per barrel in the coming ...

... board of the association "Reliable Partner," noted that the funds collected from excise taxes go to road funds. It is not by chance that when proposals are made to cancel or reduce excise taxes to stabilize retail fuel prices, the Ministry of Finance responds that excise tax revenues are used to build new roads and maintain old ones, Gusev says. Sergey Tereshkin, CEO of the oil products and raw materials marketplace OPEN OIL MARKET, notes that excise taxes are an important source of income ...